Ibadan, 28 March 2023. – Equatorial Space Systems has raised a Seed Round totaling USD 1.5 million. This fund will develop the Company’s Dorado commercial-sounding rocket family, which will provide low-cost space access for science experiments, technology demonstrators, and academic payloads. lev8.VC led the funding round, with Seeds Capital and Masik Enterprises joining as well.
The Dorado will use a hybrid rocket motor propeller, using a combination of chilled Nitrous Oxide (cNOX), and a proprietary, patent-pending solid fuel formulation – HRF-1AL – which delivers a high regression rate, high density, and flight-proven structural integrity. The propellant combination is also non-toxic and low in greenhouse gas emissions. The Company has slated the first launches for mid-2024.
Simon Gwozdz, the Founder, and CEO of Equatorial Space commented, “Since our inception nearly six years ago, it was our ambition to become Southeast Asia’s first commercial launch operator, and with this vote of confidence from our investors and supporters, we are now on track to make this dream come true. “The CEO also added that the Company was grateful for the support they had received “and look forward to building up
considerable flight heritage before expanding towards orbital launch capability.”
Likewise, Remi Choong, Principal at Elev8.VC. added, “At Elev8.VC, we believe in supporting visionary founders creating breakthrough
technologies to address humanity’s biggest challenges. Having been following Equatorial’s progress since the beginning, we are glad to be a part of their mission to provide safer and more affordable access to space while also prioritizing the health of our planet.”